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"Help shape future policy rules for e-invoicing."
The Global Exchange Network Association (GENA), the international association of e-invoicing operators, is sending this message to its members.
Because now is the time when things are really happening.
The European Commission is preparing a review of the EU e-invoicing framework and will revise the rules in the last quarter of the year.
The aim of the European Commission's revision of Directive 2014/55/EU is to improve harmonization and interoperability in e-invoicing and also to streamline processes and reduce administrative burdens for businesses operating across borders.
The update of the guidelines will ensure a forward-looking and fully interoperable framework that better supports both public administrations and businesses. Or more bluntly, the aim is to create a level playing field across the EU Single Market.
As an important part of the change in the rules for electronic invoicing, a public consultation was launched in March and will run until June 10. This is where the trade association GENA comes in. GENA recently invited its members - including Inexchange - to respond to the available questionnaire and provide practical comments and insights. The questionnaire is based on an EU study on payments in commercial transactions. Therefore, the questions also revolve around this. For example, about ongoing pilot projects measuring payment capabilities, possible challenges and difficulties, and what operational considerations you might want to mention regarding data collection and data sharing.
New ID tools
Incoming views will be considered and incorporated into a joint input with GENA as the sender, with the organization's established Public Policy and Compliance Working Group (PPCWG) already gathering ideas and suggestions on what the framework should look like.
At the same time, the PPCWG has been looking at other initiatives taken in the area of trust services, cross-border trade and payment data. Much is under development. Not least the emerging ecosystem around the EU digital wallet and corporate wallet can definitely be a game changer. With these tools, qualified e-signatures, e-stamps, time stamps and registered delivery will have a clear legal value.
The EU Digital Identity Wallet is expected to be available in all Member States by 2026. In Sweden, a fully deployed and certified solution is said to be in place by December and the first version will include an e-identification at the highest trust level.
The development of corporate wallets is still at an early stage, but tests are ongoing for tax, anti-money laundering (AML) and e-invoicing, among others.
GENA firmly believes that these types of ID tools are positive contributions to the ongoing digitization process: "The benefits are tangible: strong authentication, legally valid signatures at low cost, and easier access to verified data for KYC, for example," the organization writes.
Several ongoing tracks
The picture that emerges right now, if we dare to summarize, is that several tracks meet. The review of the e-invoicing directive, the ViDA initiative and the new wallet solutions are all driving in the same direction: simpler cross-border trade and less duplication.
Much remains to be decided this year, which is why it is worth following developments closely. For those involved in invoicing, payments or digital trade, there are good reasons to review their own processes now - what is decided in Brussels will be felt in everyday life.
Sources:
GENA
Consultation on the review of the e-invoicing directive
Read more about the EU wallet (EUDI)
